July was another impressive month of funding for the LSI Alumni raising over $370 million in new capital across 17 new deals and closing 3 M&A transactions. Our monthly Alumni Funding Update features transactions made by these medical device startups, and their investors and links to our proprietary media and coverage of the companies themselves.
Companies featured in the July 2024 update include:
Parent company, 4D Medicine Ltd, raised a £3.4m investment deal led by Oshen Holdings. This financing was also backed by DSW Ventures, SFC Capital, Boundary Capital Partners LLP, and a number of private angel investors.
Raised a $33.5M Series C Financing Led by Cormorant Asset Management and TCP Health Ventures with participation from Excelstar Ventures, the PA MedTech VC Fund II, Unorthodox Ventures, AMED Ventures, and other new and existing investors. Adona Medical is working on next-generation interatrial shunting and remote patient monitoring technologies designed to manage advanced heart failure.
Announced today that it entered into a number of agreements with Edwards Lifesciences. Under the terms of the agreements, Affluent receives $16.3 million (€15 million) upfront as a cash payment.
Received a $73 million investment from the Governments of Canada and British Columbia. The investment will support a $200 million, multi-year project to advance Aspect's unique clinical biomanufacturing capabilities, full-stack tissue therapeutic platform, and pipeline of bioprinted tissue therapeutics.
Received a $5.4M Congressionally Directed Medical Research Programs (CDMRP) grant. The company is developing a technology platform to address common challenges with implantable medical devices, including biofilm formation and thrombosis.
Raised a $10M Series A funding round led by LSI Alumni investor, Sofinnova Partners, with significant matching contributions from the European Innovation Council Fund (EIC Fund). The company's flagship product, the catheter-based EndoStapling solution Aortoseal, addresses the critical challenges of sealing and securing endografts used in minimally invasive abdominal aortic aneurysm repairs, particularly in complex procedures.
Has been acquired by Materialise, a global leader in 3D printing software and services. The acquisition will allow Materialise to expand its cardiovascular solutions with predictive simulation capabilities, advancing the personalized treatment of patients with heart diseases.
Received CE Mark certification of full-body MRI compatibility for its Inspire IV neurostimulator device. The company is focused on the development and commercialization of innovative, minimally invasive solutions for patients with obstructive sleep apnea.
Closed an oversubscribed Seed round of $1.2M led by NuFund Venture Group. The company's non-invasive diagnostic tool platform and technology capture sound vibrations and positional data to determine cartilage deterioration in joints. Currently, this technology is applied to the knee joint.
Announced it has been awarded the NSF SBIR grant to further develop its proprietary aneurysmal sac sealing technology. The company's proprietary solutions have the potential to eliminate endoleaks, the main cause of reinterventions in Endovascular Aneurysm Repair (EVAR).
Raised a ₩20 billion ($14.5 million) Series B funding round led by LB Investment, a leading venture capital firm in Korea. With this investment, the company intends to enter the domestic and overseas markets for its cardiovascular interventional robot.
Closed a $105 million financing round led by Novo Holdings. New investors Viking Global Investors and RA Capital Management, and existing investors OrbiMed, New Enterprise Associates (NEA), JVC Investment Partners, and ALIVE - Israel HealthTech Fund, also participated in the round. The financing will be used to advance the company's U.S. clinical programs in multiple mechanical circulatory support (MCS) indications and to secure the first FDA approval for the Elevate™ System in patients undergoing high-risk percutaneous coronary interventions (HR-PCI).
Announced the company has been acquired by Stryker. MOLLI specializes in developing a wire-free soft tissue localization technology that helps surgeons mark the precise location of a lesion for removal during breast-conserving surgery.
Closed a $23M Series D funding round led by Vertex Ventures HC and Treo Ventures with participation by Action Potential Venture Capital, Windham Venture Partners, Olympus Innovation Ventures, and another strategic investor. This round will fund the company through expected FDA premarket approval of the Neuspera System, the discreet, minimally invasive, ultra-miniaturized implant designed to provide patients personal control and relief from urinary urge incontinence, a symptom of overactive bladder.
Awarded blended financing which includes a €2.5 million grant and additional equity investment from the European Innovation Council Horizon Accelerator program. Already in the market with its inaugural product, ArtiFascia®, a novel dura repair graft launched in the US and awaiting CE approval, Nurami will utilize the EIC funding to advance the development of its second product, currently in pre-clinical trials.
Received €20 million in venture-debt financing from the European Investment Bank (EIB) to support clinical trials, research and development, and market access programs for the ProtEmbo cerebral embolic protection system. ProtEmbo is inserted during TAVR via the artery in the left wrist, and lines the roof of the aortic arch, shielding the brain from the dislodged debris.
Closed a $14 million Series B funding round led by Relyens Innovation Santé, advised by Turenne Capital, and saw participation from new investors Mutuelles Impact, Wille Finance, Noshaq and WE Life Sciences (Wallonie Entreprendre), along with returning investors Panakès Partners, BOM and b2venture. Additionally, Claire Poulard, Investment Director at Turenne Capital, and Henry Charlton, SVP and Chief Commercial & Marketing Officer at Intuitive joined the company's Board of Directors.
Has been acquired by Bausch + Lomb Corporation. This acquisition aims to bolster Bausch + Lomb’s surgical presence in the U.S. and enhance its leading position in dry eye management. Trukera Medical is known for its ScoutPro® device, which is a point-of-care portable tool designed to measure the osmolarity (salt content) of a person's tears.
Closed a $5 million Series AA financing round led by Botong Medical. The company develops innovative solutions for the treatment of vascular blockages using advanced, minimally invasive technology.
Raised a €25 million financing round, comprised of both equity investment and a venture debt loan from the European Investment Bank (EIB). This financing round aims to propel both the development of the Heron® lead, WISE’s cutting-edge solution for spinal cord stimulation and the commercial development of the WISE Cortical Strip (WCS®), WISE’s unique electrode for neuromonitoring.
Stay tuned for more updates as these medical technology companies continue to innovate and lead the way in the medtech industry. As we look forward to LSI Europe '24 in Portugal this September, these achievements remind us of the incredible progress being made in the medtech sector.
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